Kodiak Grants Incentive Stock Options
Kodiak Energy's board of directors has, pursuant to the Corporations' incentive stock option plan, approved the granting of stock options to directors, officers and other personnel to acquire an aggregate of 4,330,000 common shares of the Corporation ("Common Shares") at an exercise price of $0.28 per Common Share -- the market closing price of the Corporation's common shares on June 23, 2009. Of the total options granted, 3,600,000 were granted to directors and officers and 730,000 to employees and consultants.
The Corporation's option plan is shareholder approved and intended to provide employee incentive and retention. During the past year, Kodiak has not provided any bonuses or increases in salaries or benefits to directors, officers, employees and consultants and wishes to retain its valued personnel.
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